Construction Launches at New Jersey Mixed-Use Project
Prism Capital Partners is transforming a former car dealership into a 232-unit residential property.
Rendering of 10 Green Street. Image courtesy of Prism Capital Partners
Prism Capital Partners has launched construction at 10 Green St., a mixed-use residential development in Woodbridge, N.J., taking shape on the former home of a car dealership. The New Jersey-based firm is transforming the site into a 232-unit community that will include 12,000 square feet of retail space.
It’s not the first time the company has converted a property into residential use. Last year, Prism Capital Partners unveiled Phase I of Edison Village, its adaptive reuse conversion of the historic Thomas Edison Factory and Commerce Center in West Orange, N.J. And in Hoboken, the company’s conversion of the former Wonder Bread factory into a residential community is currently underway.
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Developed in a joint venture with Northwestern Mutual Life Insurance Co., 10 Green St. is located in the heart of downtown Woodbridge, at the corner of Rahway Avenue and E Green Street. The Woodbridge Station transit hub is less than a 5-minute walk from the community. The five-acre site that formerly housed the Lucas Chevrolet car dealership will feature a mix of studio, one-, two- and three-bedroom apartments.
Community amenities at the property will include a community room with kitchen and bar, fitness center, outdoor pool, patio with grills and firepits, package room, conference room and covered parking. Edwin Cohen, principal partner at Prism Capital Partners, said in prepared remarks that the project came out of the demand for transit-oriented residential.
